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roblem 1 6 - 3 6 ( LO 1 6 - 2 ) ( Static ) In its year 1 financial statements, Seatax Corporation, an

roblem 16-36(LO 16-2)(Static)
In its year 1 financial statements, Seatax Corporation, an accrual-method taxpayer, reported federal income tax expe in its year 1 tax return, it reported a tax liability of $650,000. During year 1, Seatax made estimated tax payments of
/hat book-tax difference, if any, associated with its federal income tax expense should Seatax have reported when ear 1 taxable income? Is the difference favorable or unfavorable? Is it temporary or permanent?
\table[[,\table[[Book-tax],[Difference]],\table[[Favorable or],[Unfavorable]],\table[[Temporary or],[Permanent]],],[Year 1,$,(80,000),Unfavorable,Permanent]]
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